BITCOIN – BTC/GBP

Bitcoin has been trading between the 20-day exponential moving average (EMA) and the horizontal support at £23,620 for the past few days. This tight range trading suggests a lack of urgency among traders to buy at the current levels.

When the price consolidates near a strong support, the possibility of a breakdown increases. The bears will now try to sink the BTC/GBP pair below the £23,620 support.  Read more

ETHEREUM – ETH/GBP

The bears pulled Ether below the 20-day EMA on July 8 and have been defending the resistance since then. The failure to rise above the 20-day EMA may have attracted selling from short-term traders.

If the price breaks and sustains below £1,468.55, the ETH/GBP pair could slide to the next critical support at £1,216.19. The 20-day EMA has started to turn down and the RSI has dipped into the negative zone, indicating the path of least resistance is to the downside. Read more

RIPPLE – XRP/GBP

XRP has been gradually drifting lower for the past few days. The downsloping moving averages and the RSI in the negative zone suggest that bears are in control.

The sellers will try to sink the XRP/GBP pair to the next major support at £0.36680. If this support gives way, the bearish momentum may pick up. The next major support on the downside is the £0.25 to £0.28 support zone.Read more

CARDANO – ADA/GBP

After trading between the moving averages for four days, Cardano slipped below the 20-day EMA on July 8. This suggests profit-booking from the short-term bulls.

The 20-day EMA has started to turn down and the RSI has dipped into the negative zone, indicating advantage to the bears. If sellers sink and sustain the price below £0.932, the ADA/GBP pair could drop to £0.86576 and then to the critical support at £0.71.  Read more

BINANCE – BNB/GBP

Binance Coin continues to trade near the 20-day EMA. This is a positive sign as it indicates that bulls are not closing their positions because they anticipate a move higher.

The 20-day EMA is gradually sloping down and the RSI is above 46, indicating a minor advantage to the bears.  Read more

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